ttmax09:
What you don't know, you don't know. Binance quickly acted to prevent issues with the government when they already started talking about a potential ban.

Its not hard, you think the average businessman gets $ through Binance?

Take a walk to any mallam around your area and ask for $5,000, you will hear the actual price and that is, if it is available.

Let me say it again, Nigeria does not have $, Buhari and former CBN Gov. already wasted oil revenue from 2015 - 2023. Took loans from foreign banks using our reserve as collateral and went ahead to commit 5yrs of oil revenue to service debt + printing more naira through ways and means on non-existing projects.

Your oil production is dropping and even the revenue from the ones produced would first be used to service debt before anything.

Here lies the problem of your Naira!!!

Add the fact that most businesses are reliant on FX to operate without producing anything for export...
Very sad reality...

stcool:


Its not hard, you think the average businessman gets $ through Binance?

Take a walk to any mallam around your area and ask for $5,000, you will hear the actual price and that is, if it is available.

Let me say it again, Nigeria does not have $, Buhari and former CBN Gov. already wasted oil revenue from 2015 - 2023. Took loans from foreign banks using our reserve as collateral and went ahead to commit 5yrs of oil revenue to services debt + printing more naira through ways and means on non-existing projects.

Your oil production is dropping and even the revnue from the ones produced would first be used to service debt before anything.

Here lies the problem of your Naira!!!

essentialone:


Why will the peg not be sustainable?

Because we don’t have enough dollars to defend the peg. We didn’t have enough dollars under Buhari too but the rates were stubbornly pegged and that’s why we still have huge backlogs the CBN is currently trying to clear.

In other news, should we read any meaning to the resignation of the NGX CS (after about 14months in office) barely2 days to the BM?

BREAKING: Fed govt to restart direct cash transfers to 12m Nigerians

See leaders that want Naira to gain in value against the USD...

yMcy56:
Meanwhile, SUGAR and SALT met at same price junction earlier.....intra-day.....@61

Both now parting ways again.........
SUGAR @64+ intra-day
SALT @60....

I think SUGAR is cheaper when we compared the two ahead of the Merger.....

The merger just putting people in suspense anyhow....let them do something about it soonest jorr.....the waiting is becoming frustrating.
*Bargain hunters won't like this*

You need to compare the share exchange ratio of Nascon/DangSugar with Mkt. Price ratio of Nascon/DangSugar to determine where the value lies at any point in time. While the first ratio is constant the latter changes continually and that is where you can hunt for the value.

Additional value could be the higher probability that Nascon will pay dividends against no dividends by Dangote Sugar cos:

1. They paid interim dividend and will likely follow up with final dividend at least equal to interim.
2. There is a strong chance Dangote Sugar will not pay a final dividend for reasons that are obvious and which they will be happy to flaunt before shareholders.

Also realize that the reason for that loss is still in play and making additional impact.

freeman67:
GSK, after the payment, what next. I thought that by now it would have been removed from investors CSCS accounts. Abi they leave am there for the remaining small payments.

The registrar, GTL, is still procrastinating to pay me the second tranche of units I bought at different times with same broker.

KarlTom:
In other news, should we read any meaning to the resignation of the NGX CS (after about 14months in office) barely2 days to the BM?

Always scrutinize everything especially when money is involved

megawealth01:
Most Nigerians only condemn corruption/nepotism if it doesn't favor them. I doubt if Nigerians condemn the above when it's in their favor...

I turned a particular age sometimes ago and so I no longer argue online... I just allow people to have their way while I have my peace...

Truth is like pregnancy that's destined to mature... You certainly can't hide it forever...

Happy Nigeria...

Words on marble

* FG blocked Binance*
https://igberetvnews.com/1462769/fx-crisis-fg-blocks-binance-curb-naira-depreciation/#forward

https://www.nairaland.com/8008167/fg-blocks-binance-coinbase-octafx

https://cryptoslate.com/binance-accused-of-manipulating-nigerian-naira-as-glitch-impacts-p2p-traders/

On 18th of January this year, those persons who bought PZ at N39.20, please what was on your mind? Be kind enough to share with us. We learn by learning...

megawealth01:
Overview of the Nigerian Economy: Attracting FDIs, ASI at 105.722, and Market Capitalization at 57.8 Trillion

https://nairametrics.com/2024/02/21/overview-of-the-nigerian-economy-attracting-fdis-asi-at-105-722-and-market-capitalization-at-57-8-trillion/

Tinubu Admitted To Me He Had No Blueprints On How To Govern Nigeria


https://saharareporters.com/2024/02/20/tinubu-admitted-me-he-had-no-blueprints-how-govern-nigeria-former-apc-campaign-director

Tinubu: We Will Raise $10 Billion To Stabilise Naira, Boost FX Liquidity

https://www.thecable.ng/tinubu-well-raise-10bn-to-stabilise-naira-boost-fx-liquidity/amp

Tinubu will be surprised that the $10 Billion he want to raise will not stabilize the naira at the end of the day.

He and his economic team better stop being nice and get dirty by using unconventional means to keep the naira alive.

Do you still think they can salvage the situation?

faoogoke:


Tinubu will be surprised that the $10 Billion he want to raise will not stabilize the naira at the end of the day.

He and his economic team better stop being nice and get dirty by using unconventional means to keep the naira alive.

How is closing Binance and other crypto trading platforms going to provide long-term solutions to the falling currency? Instead of tackling the root cause decisively, they are intent on preventing the commoners from protecting their money as best as they can. Beside the fact that most of them have millions of dollars stashed away. The moment Mr. Tinubu announced no more subsidies and naira unification, these woes intensified.

We all thought he had concrete plans to cushion the aftereffects. The NGX went on a crazy bull run, but now it has started declining, showing us that he is still adopting the same trial and error approach of the previous administration.

With the increasing prices, it is likely that fewer sales will be made. Maybe the increased revenues I was championing about may not materialize after all. I apologize if I led you astray in any way with my previous posts.

Below is a simple fishbone chart. The red portions are the root causes as identified by me.

Thank you.

You know since then he still hasn't commented. His last post was on the 9th of February...

222Martins:
Locotrader, this one wey we no see your breaklight or update today..........Hope all is well?

Mr Ding!.... Come oo😄

ositadima1:
How is closing Binance and other crypto trading platforms

The measures to restrict the bolded may lead to more cash flow into the NGX, coupled with the fact that the AFS of some companies will be released from next week.

Ding!

ositadima1:
How is closing Binance and other crypto trading platforms going to provide long-term solutions to the falling currency? Instead of tackling the root cause decisively, they are intent on preventing the commoners from protecting their money as best as they can. Beside the fact that most of them have millions of dollars stashed away. The moment Mr. Tinubu announced no more subsidies and naira unification, these woes intensified.

We all thought he had concrete plans to cushion the aftereffects. The NGX went on a crazy bull run, but now it has started declining, showing us that he is still adopting the same trial and error approach of the previous administration.

With the increasing prices, it is likely that fewer sales will be made. Maybe the increased revenues I was championing about may not materialize after all. I apologize if I led you astray in any way with my previous posts.

Below is a simple fishbone chart. The red portions are the root causes as identified by me.

Thank you.

Is there a solution to Nigeria’s Forex issues? Can we achieve a $ to N800.00 in months or even weeks? I think it’s possible if we do the following;

1. Warehouse the Dollar via designated banks. Strict rules will apply to ensure that sales are transparent and targeted at those that really need it . This will give the reins back to CBN via the designated banks. CBN can fix her rates but must meet supply within what I wish to refer to as emergency transfusion period. This will make speculation unnecessary and unrewarding in the short term. Sadly but inevitably, the initial funds may have to be borrowed but tied to secured sources of forex earnings. More like a modified share conversion strategy.
2. Transfusion period would be theoretically the period it would take Nigeria to improve organic dollar earnings through manufacturing, production, mining, petrochemical, FDI, etc.
For the above strategy to be effective and efficient, the supply side has to be fixed even if as an interim borrowing while resources that drive dollar earnings are brought onboard more like the case in a blood transfusion. Blood is given as the body works on organically producing its own.
3. Cut wastages, spendings that fuel inflation and weaken our currency.

Who will ….?

ojesymsym:
You know since then he still hasn't commented. His last post was on the 9th of February...

Edited: Oops, He's around today!

Key BM dates:
DANGSUGAR - 28 FEB, NASCON - N/A

We'll likely know more about the merger...

yMcy56:
Meanwhile, SUGAR and SALT met at same price junction earlier.....intra-day.....@61

Both now parting ways again.........
SUGAR @64+ intra-day
SALT @60....

I think SUGAR is cheaper when we compared the two ahead of the Merger.....

The merger just putting people in suspense anyhow....let them do something about it soonest jorr.....the waiting is becoming frustrating.
*Bargain hunters won't like this*

KarlTom:
Key BM dates:
DANGSUGAR - 28 FEB, NASCON - N/A
We'll likely know more about the merger...

Maybe the merger news will come with DS result or shortly after result is released.
We're waiting patiently.....

Meanwhile, WAPCO has been getting cross deals and buying attention @35.70 since......
ZENITH also @35.70...

Afrinvest Stock trading platform, always inactive and unresponsive during trading hours. Any remedy?

I am having problem with Morgancapitalgroup website.It keeps saying error 403 forbidden.
Is anyone having the same problem?
Any solution

debostar:
I am having problem with Morgancapitalgroup website.It keeps saying error 403 forbidden.
Is anyone having the same problem?
Any solution

...the problem likely from your end!

Dangote Sugar Commercial Paper is out

FBNH @29....
The banks are looking like they're stabilizing and adding flesh to their previous sheddings....
GTCO up with +95k so far.....
ZENITH, ACCESS, FIDELITY, UBA refused to shed major weight so far......much defense from their sides...

vacanci:
Dangote Sugar Commercial Paper is out

vacanci:
Dangote Sugar Commercial Paper is out

Where's the link nah....
Not yet posted on NGX

29.00 seems like the accumulation by an individual.
The string of trades started about an hour ago...

yMcy56:
FBNH @29....
The banks are looking like they're stabilizing and adding flesh to their previous sheddings....
GTCO up with +95k so far.....
ZENITH, ACCESS, FIDELITY, UBA refused to shed major weight so far......much defence from their sides...

yMcy56:

Where's the link nah....
Not yet posted on NGX

My brokers sent me an email to this effect

KarlTom:
29.00 seems like the accumulation by an individual.
The string of trades started about an hour ago...

Started codedly from circa 27.40

vacanci:

My brokers sent me an email to this effect

Ok. Make we dey expect am.....

But Commercial Paper??
Nah Merger document we dey expect o.